Mergers & acquisitions (M&A)
NKSJ deal sees Canopius split marine and energy unit
Canopius has separated its existing marine and energy unit into two dedicated divisions as part of a move designed to maximise the growth opportunities following the firms acquisition by Japanese insurer NKSJ.
Innovation Group pre tax profits down 29%
Claims specialist Innovation Group has unveiled a hefty slump in pre-tax profits for the six months to 31 March.
Crawford tipped for Buckley Scott deal
Loss adjusting giant Crawford is looking to grow its construction and engineering presence through acquisition, with Lancashire-based Buckley Scott hotly tipped as a target.
Charles Taylor expands UK regional footprint with Knowles Loss Adjusters buy
Charles Taylor Adjusting has completed a deal to acquire property and casualty claims specialist Knowles Loss Adjusters.
Towergate boss Nathan unconcerned by plummeting Arista profits
Towergate Underwriting chief executive Clive Nathan has downplayed the implications of falling profits at newly acquired Arista by claiming the slump relates to the managing general agent’s decision to re-underwrite its motor book.
Broking M&A boom predicted as private equity appetite grows
Report reveals UK dominance of European insurance deals
Brit chalks up marginal GWP growth in Q1
Growth of 8.2% within Brit’s direct business contributed to group-wide gross written premium of £336.5m in the opening three months of the year (Q1 2013: £332.6m).
Brit snaps up renewal rights to QBE's aviation business
Brit has reached an agreement to acquire the renewal rights to QBE’s London-based dedicated Lloyd’s aviation business.
58% of brokers weighing mergers over three years
Almost two thirds of insurance brokers have admitted they will consider mergers over the next three years in a survey from Sterling.
Brightside shares boosted by Bidco deal
Shares in Brightside were trading 27.15% up at close of markets yesterday following news of its imminent acquisition by Belvedere Bidco.
More M&A activity predicted for 2014 as UK leads the way in Europe
Mergers and acquisitions completed within the UK insurance market last year dwarfed similar deals in the rest of Europe, according to Grant Thornton, which is predicting more acquisitive activity in 2014.
Brightside agrees to £127m acquisition by AnaCap company
Brightside has agreed to a £127m acquisition by a newly incorporated company indirectly owned by private equity firm AnaCap Financial Partners.
Towergate tipped to benefit from pause in Gallagher acquisition spree
Towergate may benefit from a pause in UK retail acquisitions at Arthur J Gallagher, according to Imas managing partner Olly Laughton-Scott.
BIA Countdown: Achievement winner reflects: Q&A with Patrick Snowball
Since their inception, the British Insurance Awards have become the unrivalled badge of excellence for the insurance sector, raising standards across the industry through their showcasing of best of breed performance and innovation.
Sompo Japan completes acquisition of Canopius
NKSJ Holdings subsidiary Sompo Japan Insurance has completed its acquisition of Canopius after all necessary regulatory approvals for the transaction were obtained.
Oval snaps up Northern Irish broker Trotter and Reid
Oval has acquired the business of independent Northern Ireland broker Trotter and Reid for an undisclosed sum.
ING offered €1.275bn of funding before insurance IPO
Dutch financial services firm ING Group has secured €1.275bn of funding in its European and Japanese insurance division NN Group from three Asian investors.
Gallagher acquires employee benefits consultancy Shilling
Arthur J Gallagher has acquired Hampshire-based employee benefits communication consultancy Shilling.
Rebranded BLM becomes £100m business following HBM Sayers merger
Berrymans Lace Mawer has rebranded as BLM having formally combined with Scottish firm HBM Sayers to form a £100m business.
Stackhouse Poland acquires Liverpool broker Coulter Hurst
Independent broker Stackhouse Poland has acquired Liverpool-based firm Coulter Hurst & Company.
VRS Vericlaim to buy Ellis May
VRS Vericlaim is to acquire high net worth adjuster Ellis May, taking on 39 new staff in offices in Uxbridge, Leeds and Birmingham.
Ace completes Thai purchase
Ace has completed its acquisition of a 60.9% stake in the general insurance division of Siam Commercial Bank for $190m (4.5bn baht).
Richard Thacker & Company snapped up by Integro
Manchester-based broker Richard Thacker & Company has been acquired by international insurance brokerage and risk management firm Integro for an undisclosed sum.
Aspen spends $3m to spurn Endurance advances
Aspen’s defence against a takeover attempt by Endurance has cost the business $3m (£1.78m), the firm has revealed.